AND OWNERS AND BENEFICIAL OWNERS OF AMERICAN DEPOSITARY RECEIPTS Deposit Agreement Dated as of September 18, 1997 Amended and Restated as of March 8, 1999Deposit Agreement • May 6th, 2003 • Gerdau Sa • Steel works, blast furnaces & rolling & finishing mills • New York
DEPOSIT AGREEMENT dated as of September 18, 1997, as amended and restated as of March 8, 1999 , and as further amended and restated as of _________, 2003, among GERDAU S.A., a company incorporated under the laws of Brazil (herein called the Issuer), THE BANK OF NEW YORK, a New York banking corporation (herein called the Depositary), and all Owners (as hereinafter defined) and Beneficial Owners (as hereinafter defined) from time to time of American Depositary Receipts issued hereunder.
